The new face of saving

Savvy savers should consider different options to yield better returns for their deposits - but it's important to research and plan thoroughly, writes Emma Kennedy.

3rd August, 2013
Savers are looking towards alternatives to deposit accounts, which are yielding very low returns. Photo: Thinkstock

Savers are likely to find it increasingly difficult to secure attractive returns on deposits after the European Central Bank (ECB) clearly flagged that the current low interest rate environment was here to stay.

Last Thursday, the ECB decided to keep interest rates unchanged, saying that "incoming information has confirmed our previous assessment".

The historic low of 0.5 per cent is unlikely to increase any time soon either, according to ECB president Mario Draghi.

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